In-Vitro Diagnostics Market to See Significant Growth Driven by Aging Populations and Need for Rapid Testing
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The in-vitro diagnostics market is estimated to grow by USD 33.16 billion from 2021 to 2026 at a CAGR of 6.89%.
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The rising geriatric population with chronic and infectious diseases is driving market growth.
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Rapid on-site diagnostic tests are essential for early diagnosis of diseases like diabetes and cancer.
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Vendors are adopting various growth strategies like promotional activities to improve visibility amidst growing competition.
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Key challenges include stringent regulatory guidelines for in-vitro diagnostic manufacturers.